Pharmaceutical Companies On A Downslide In US Stock Exchanges
Tuesday, November 30, 2010 7:15 PM

It seems the health care and pharmaceutical companies have a lousy day in the Stock Exchanges. Several of the pharmaceutical and health care companies including Johnson & Johnson, Pfizer, Procter & Gamble, Abbott Laboratories, and Eli Lilly are reporting a down slide in their trading so far. The AMEX Pharmaceutical Index is already down by 0.81 percent over its Monday's closing level of 295.33 points.

After the $130 million fine imposed on Johnson & Johnson Common Stock (NYSE: JNJ) by the Netherlands Arbitration Institute tribunal for breach of contract with Swiss drug manufacturer Basilea Pharmaceu (Swiss: BSLN.SW), the former has already lost 0.45 percent in the day's trading.

While Pfizer Inc (NYSE: PFE) is already showing a down slide, losing 0.85 percent so far in the day's trading compared to its Monday's closing, Procter & Gamble Company (NYSE: PG) is showing a negative development and has lost 1.04 percent compared to its last day closing of 62.13 points.

Both Abbott Laboratories (NYSE: ABT) and Merck & Company Inc (NYSE: MRK) seems to have lost their way in the market today. Both are down by similar 0.06 percent in the day's trading till 1.36 PM.

Eli Lilly and Company (NYSE: LLY), which had recently received approval from the United States Food and Drug Administration for the sale of Axiron topical solution CIII for men with certain conditions associated with a deficiency or absence of testosterone, is also performing poorly in the day's trading so far. It has already lost 0.15 percent compared to its opening mark in the day's trading till 1.41 PM.

Bristol-Myers Squibb Company (NYSE: BMY), GlaxoSmithKline PLC (NYSE: GSK), and Novartis AG (NYSE: NVS), three of the world's leading pharmaceutical companies, have registered down slide in Tuesday's trading so far. While Bristol-Myers Squibb is down by 0.31 percent, GlaxoSmithKline is already down by 0.93 percent. Novartis has lost already lost 1.78 percent in the day's trading compared to its closing level on Monday.

King Pharmaceuticals Inc (NYSE: KG) seems to be the exceptions so far. It is on an upward movement in the trading and is up by 0.11 percent as compared to its last day closing of 14.15 points.



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